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Households feel pinch as lenders tighten mortgages

UK households are facing a growing squeeze on their incomes as lenders hike the cost of mortgage repayments and tighten criteria for borrowers.

While the number of mortgages approved by lenders edged up slightly in March, according to Bank of England figures published on Wednesday, mortgage conditions have worsened in recent months for millions of homeowners.

Financial Times 3rd May 2012

Link to full article: http://www.ft.com/cms/s/0/f4f62e4e-947f-11e1-8e90-00144feab49a.html#ixzz1tnFDvmJu

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